Medavoy lived in Chile from 1947 to 1957, and he studied at the Liceo Valentín Letelier de Santiago,[5] where he learned to speak Spanish fluently. He became an American citizen in 1963.[6] and graduated from UCLA that same year. He began his career at Universal Studios in 1964. In 1965 he became an agent at the General Artists Corporation and later moving into the vice president position of the Creative Management Agency.[citation needed]

Most recently, Phoenix Pictures has produced Shutter Island and Black Swan. Shutter Island was released on February 19, 2010, earning over $42 million its opening weekend. Black Swan was directed by Darren Aronofsky and won numerous awards including the Oscar® and Golden Globe for Best Actress (Natalie Portman).[7]

In 2011, Medavoy announced his newest project surrounding the 2010 Chilean mining accident that left 33 men trapped underground for 69 days. Medavoy will collaborate with Chilean officials and Academy Award-nominated screenwriter José Rivera to create an authentic retelling of this story that, as Medavoy explains, "at its heart, [is] about the triumph of the human spirit and a testament to the courage and perseverance of the Chilean people".[7]

Also in 2011, Medavoy announced his collaboration with The Shanghai Film Group to create both a feature film and six-hour miniseries. The feature, an adaptation of the novel The Cursed Piano, is a love story set in Japanese-occupied China concerning prosecuted Jews seeking refuge from an occupied Europe. The mini-series, Tears of a Sparrow, will focus in greater detail on the experience of these Jews in Shanghai. He is also working on an adaptation of Dandelion Wine, adapted from the novel of the same name by Ray Bradbury.[7]

In 1984, Medavoy was Co-Finance Chair of the Gary Hart campaign. He also actively participated in President Clinton's campaigns in 1992 and 1996. In 2008, he supported Barack Obama's candidacy and his wife, Irena, served as the Co-Finance Chair of the campaign.[7]

In 2002, Simon & Schuster published Medavoy's book, You're Only As Good As Your Next One: 100 Great Films, 100 Good Films and 100 For Which I Should Be Shot, which became a best-selling and was subsequently released in paperback in 2003. In 2009, Mike published American Idol After Iraq; Competing for Hearts and Minds in the Global Media Age, with co-author Nathan Gardels, editor of the National Political Quarterly.[7]